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☆ Berkshire director: Buffett CEO heir an ideal fit, but changeover not imminent
▼ + stars: | 2023-05-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

But Olson added that Abel is likely “a good number of years off” from taking over, with Buffett and Munger still on board. Buffett publicly designated him as his likely successor as CEO in 2021, after Munger appeared to let slip the board's thinking at that year's annual meeting. After Buffett departs, Berkshire is expected to name his eldest son Howard as non-executive chairman to preserve its culture, where business units operate essentially without interference from the top. Upon becoming CEO, Abel would likely experience "more formality" in his relationship with directors than Buffett, who took over in 1965, now has. "The bottom line is, not only is Warren satisfied, Charlie is satisfied that Greg ... will carry out that culture," he continued.

☆ More layoffs hit Tom Brady's NFT startup Autograph, which just cut nearly a third of its workforce
▼ + stars: | 2023-05-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +2 min

Autograph is a star studded NFT platform cofounded by retired NFL quarterback Tom Brady. This new round of layoffs occurs months after the company laid off dozens of staffers in December. The NFT market has has cooled, with sales expected to plunge 72% this year, according to one estimate. Autograph, the star studded NFT platform cofounded by retired NFL quarterback Tom Brady, has laid off about a third of its workforce, Insider has learned. The NFT market has has cooled considerably, with sales expected to plunge 72% this year, according to one industry estimate.

☆ Buffett set for 59th shareholder marathon as big questions loom
▼ + stars: | 2023-05-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +6 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. Tens of thousands of people are flocking to Omaha, Nebraska this weekend for the extravaganza that Buffett, 92, calls "Woodstock for Capitalists." Buffett and Munger are due to answer five hours of shareholder questions at the meeting. "We believe in constructive engagement and dialogue, whether it's Warren Buffett or another company," Frerichs said in an interview. Reporting by Jonathan Stempel in Omaha, Nebraska; Editing by Will Dunham and Megan DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Warren Buffett, Berkshire Hathaway at a glance
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +8 min

[1/2] Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc's annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File PhotoMay 4 (Reuters) - Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett's Berkshire Hathaway Inc (BRKa.N). Susan Buffett and Howard Buffett are Berkshire directors. His Berkshire stock will go to philanthropy after he dies. (Interview with CNBC, April 12, 2023)Abel on Berkshire managers' relationship with him: "It's not the same as working for Warren.

☆ Berkshire Hathaway’s energy company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-22 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Berkshire Energy spokesman Brandon Zero said the company would have no comment. But it still uses more coal, the dirtiest major electricity fuel – coal represents 23% of Berkshire's power mix – more than the national average of 20%.

☆ Berkshire Hathaway’s utility company is about to hit a major renewable energy milestone
▼ + stars: | 2023-04-21 | by ( Tim Mullaney | ) www.cnbc.com time to read: +3 min

With annual meeting season coming soon, Warren Buffett's climate record is back in the news – and activists are still not happy. Buffett's Berkshire Hathaway conglomerate faces three different shareholder resolutions heading into its annual "Woodstock for capitalism" on May 6. Buffett's climate metrics getting betterBerkshire is a climate paradox: Many of its climate metrics are improving rapidly, if not as fast as some competitors. Any discussion of Berkshire and climate necessarily begin with its utility business, since electricity production accounts for a quarter of U.S. greenhouse gas emissions. Berkshire Energy spokesman Brandon Zero said the company would have no comment.

☆ Warren Buffett says he worries about nuclear threats and more pandemics—but never the future of Berkshire Hathaway
▼ + stars: | 2023-04-21 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Billionaire investor Warren Buffett says he worries about a few things. I worry about a pandemic in the future, all kinds of [things]," Buffett said. "99 and a fraction percent of my net worth in Berkshire," Buffett told "Squawk Box," adding that multiple of his family members also heavily invest in the company. "I worry about things nobody else worries about, but I can't solve them all," Buffett said. As for feeling secure about Berkshire's future, Buffett has already handpicked his company's next CEO — and his successor, Greg Abel, has said he doesn't plan to diverge from Buffett's winning formula.

☆ Commercial real estate woes weigh on New York City recovery, NY Fed says
▼ + stars: | 2023-04-13 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

April 13 (Reuters) - Ongoing stress in the New York City commercial real estate sector is still creating economic headwinds for the region as it nears a complete recovery from the coronavirus pandemic, and it’s unclear when or if the sector will return to its prior strength, the New York Fed said Thursday. “It's very clear that the absence of office workers is continuing to put strains on the New York City economy” said Jaison Abel, Head of Urban and Regional Studies at the bank, in a press briefing. But that does not necessarily mean that companies leasing office space can just cut back on the space they rent out. The New York Fed’s findings on the city’s economy come as fears are mounting over the fate of the commercial real estate sector, which is heavily dependent on borrowing to function. These firms may be less able to lend in the current environment and may be more exposed to defaults from commercial property borrowers.

☆ Leaked intelligence document shows that Egypt, a longtime US ally, secretly planned to provide Russia with 40,000 rockets and gunpowder: report
▼ + stars: | 2023-04-11 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Egypt negotiated a massive weapons and gunpowder sale to Russia covertly, per The Washington Post. The revelation was made public through a leaked top-secret document, which surfaced on Discord. The US has said there is no proof that Egypt sold the 40,000 rockets to Russia, per the Post. One of the files detailed conversations between high-level Egyptian officials over the sale of weapons to Russia. The top secret document, dated February 17, features discussion from Egyptian officials about how to supply their Russian counterparts with gunpowder and artillery from Egyptian factories, per the Post.

Berkshire Hathaway vice president Gregory Abel bought nearly $25 million worth of Berkshire's class A stock last week, filings show. He previously bought $68 million worth of Berkshire stock in September. Berkshire's class A shares, and the "Baby Berkshire" class B shares, both have dropped about 3.4% this year, underperforming the S & P 500. Berkshire Hathaway vice chair Greg Abel bought $24.6 million worth of Berkshire's class A stock on March 17. Capri Holdings CEO John Idol bought nearly $10 million worth of stock on March 16.

☆ China warns against travelling out of Central African Republic capital after killings
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +2 min

BEIJING, March 20 (Reuters) - China's embassy in the Central African Republic has urged its citizens to avoid travelling outside the capital, Bangui, after a report that nine Chinese nationals were killed in an attack by militants at a gold mine outside the city. Chinese President Xi Jinping has called for "severe punishment" of the perpetrators in accordance to the law, and said the safety of Chinese citizens must be ensured, the Chinese foreign ministry said in a statement on Monday. The security risk level in the Central African Republic, apart from the capital, was "red", or very high, the Chinese foreign ministry added. The ministry said it would work with governments and guide Chinese embassies and consulates to take further effective measures to fully safeguard Chinese citizens and enterprises in Africa. There have been several attacks on Chinese nationals abroad in recent months, prompting embassies to issue warnings and safety alerts and conduct evacuations.

☆ Warren Buffett's Berkshire Hathaway rejects call for silence on hot-button issues
▼ + stars: | 2023-03-17 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

March 17 (Reuters) - Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, on Friday urged shareholders to reject proposals that it avoid discussing hot-button social and political issues, and competing proposals that it disclose more about its climate change and diversity efforts. While Buffett's salary is low, his 15.6% Berkshire stake comprises most of his $101.6 billion net worth, which Forbes magazine said makes him the world's sixth-richest person. Berkshire's more than $60 billion of stock repurchases since the end of 2019 helps preserve Buffett's voting power. Abel would become chief executive and Buffett's son Howard Buffett would become non-executive chairman if Warren Buffett could not continue. Berkshire's businesses include Geico car insurance, the BNSF railroad, Berkshire Hathaway Energy, Dairy Queen, Fruit of the Loom and many others.

☆ Berkshire Hathaway to beef up risk disclosures following SEC request
▼ + stars: | 2023-03-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In correspondence made public on Tuesday, the SEC's division of corporate finance asked Berkshire to "enhance" its risk management disclosures in its annual proxy filings, and Berkshire agreed to make the requested changes. It also asked Berkshire to address whether its lead independent director can override Buffett on risk matters or ask the board to consider them. The SEC made its requests in a Sept. 2, 2022 letter, and Berkshire Chief Financial Officer Marc Hamburg agreed to them six days later. Berkshire also does not hold analyst calls, and communicates to the public mainly through financial disclosures, its annual meeting and Buffett's annual shareholder letter. He has also said Berkshire's disclosures are sufficient, and many businesses are too small to merit lengthy discussion.

After a fire engulfed Notre Dame in 2019, horrified onlookers around the world donated nearly $1 billion to restore the cathedral. Scroll to experience an acoustic simulation of how “Viderunt Omnes” may have sounded from different places inside Notre Dame. In the survey on the acoustic experience of Notre Dame, respondents commented on the building’s unique sound. We may see Notre Dame as an eternal monument, but she hears it as a place that is always changing. When I visited Notre Dame with her, we were accompanied by a young sound engineer, as well as a historian studying metal.

☆ Warren Buffett calls stock buyback critics 'economic illiterate' in Berkshire Hathaway annual letter
▼ + stars: | 2023-02-25 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

An Andy Warhol-like print of Berkshire Hathaway CEO Warren Buffett hangs outside a clothing stand during the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, U.S. April 30, 2022. Warren Buffett defended stock buybacks in Berkshire Hathaway 's annual letter, pushing back on those railing against the practice he believes beneficial to all shareholders. The conglomerate spent a record $27 billion in buybacks in 2021 as Buffett found few opportunities externally. Buffett believes buybacks are beneficial to shareholders as they provide a lift to per-share intrinsic value. "American tailwind"Buffett's widely read shareholder letter is released with Berkshire's annual report and usually sets the tone before the conglomerate's big annual meeting in May in Omaha, Nebraska, nicknamed "Woodstock for Capitalists."

☆ The question CNBC’s Andrew Ross Sorkin asks himself ‘100 times a day’ to be more successful
▼ + stars: | 2023-02-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

Andrew Ross Sorkin wears many hats — though he's perhaps most recognizable for his role as co-anchor on CNBC'S "Squawk Box," Sorkin is also an editor, columnist, producer, author and entrepreneur. The 46-year-old journalist and New York native got his start as an intern at Inside Edition before interning at The New York Times in 1995 — all while still in high school. Sorkin went on to graduate from Cornell University, contributing stories to the Times throughout his college career. And in 2001, he started DealBook, an online daily financial report published by the Times that he still edits over 20 years later. These roles all differ substantially, but there are three key attributes that help Sorkin excel in them: persistence, listening and understanding.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ Biologists found 5 new species of snakes and Leonardo DiCaprio named one that produces a 'musky and distasteful odor' after his mom
▼ + stars: | 2023-02-08 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

One of the snakes was named by actor Leonardo DiCaprio in honor of his mother, Irmelin Indenbirken. The snakes are being threatened by mining operations in the country, scientists noted. Biologist Alejandro Arteaga examining a preserved snail-eating snake in a museum Jorge CastilloOf the five species, one — a red-orange snake with large, glowing orange eyes — is called DiCaprio's snail-eating snake. "When threatened, individuals may hide the head among body coils and produce a musky and distasteful odor," the study read. Alejandro ArteagaThe four other snakes include the canopy snail-eating snake, Marley's snail-eating snake — named after the daughter of billionaire Brian Sheth — as well as Vieira's snail-eating snake, and Welborn's snail-eating snake.

☆ As ChatGPT mania takes hold, here's how companies beyond tech are using A.I.
▼ + stars: | 2023-02-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +7 min

AI's been in use for years, of course, helping companies improve products, efficiency and their business models. Media conglomerate Comcast (the parent of CNBC) is harnessing AI to improve expenses and innovate within high-speed broadband, while Stanley Black & Decker mentioned it's using AI to help customers better measure the hardening of concrete. Here's how some of the biggest companies outside of technology are utilizing AI to improve their businesses: Healthcare companies bet on AI One of the biggest beneficiaries of the latest AI trends might be healthcare companies. Some health companies also view machine learning and AI as tools to assist in areas with doctor shortages or fewer resources. Minneapolis-based utility Xcel Energy said it's using AI technology to improve efficiency at its plants and move from "reactive to proactive maintenance," said Brian Van Abel, Xcel's chief financial officer.

Regan, who has spent the past year visiting communities struggling with water infrastructure crises — including in Alabama, Mississippi and West Virginia — acknowledged that the need is much greater. Engineers also had the forethought to build separate waste and drinking water infrastructure in Baltimore. Weather events routinely overwhelm the system, causing sinkholes that can lead to water main breaks and sewer backups in homes. Blue Water Baltimore filed a federal lawsuit against Baltimore in late 2021 over the issue. Two separate sinkholes, caused by the collapse of a stormwater tunnel and a leaking water main, led chlorination levels in the water system to drop.

☆ From a Deepfaked Elon Musk to RadioShack’s NSFW Tweets, CMO Today’s Twenty-Two Most-Read Stories of 2022
▼ + stars: | 2022-12-29 | by ( Nat Ives | ) www.wsj.com time to read: +7 min

Our report on deepfakes was the most-read CMO Today story in 2022. Prepare for what’s coming with this list of CMO Today’s most-read coverage in 2022, presented in order of popularity. How NSFW Tweets Plug Into RadioShack’s New Marketing StrategyAbel Czupor, who leads RadioShack’s newly edgy marketing. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Photo: KayakA hospitality empire decided to try its hand at ad sales, too.

☆ Warren Buffett treasures Borsheims as one of his most-beloved businesses. CEO Karen Goracke offered a rare glimpse inside Berkshire Hathaway, and broke down how she's dealt with the pandemic and infla
▼ + stars: | 2022-12-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett's Berkshire Hathaway has owned Borsheims, an Omaha jeweler, since 1989. Warren Buffett's Berkshire Hathaway acquired Borsheims, a single jewelry store in the investor's hometown of Omaha, in 1989. "What works with diapers works with diamonds," Buffett once quipped, comparing Borsheims' high-volume, low-cost model to Walmart's. Insider spoke to Borsheims CEO Karen Goracke on the store floor during Berkshire's annual-meeting weekend in April 2022. "That's the greatest thing about jewelry," Goracke said.

☆ Tom Brady's NFT company, Autograph, has laid off dozens of people after severing ties with board member Sam Bankman-Fried
▼ + stars: | 2022-12-16 | by ( Ben Bergman | ) www.businessinsider.com time to read: +3 min

Tom Brady cofounded Autograph at the height of the NFT sports boom. Disgraced FTX founder Sam Bankman-Fried joined the board of the company last year. Insider has learned the company has laid off dozens of employee and cut ties with Bankman-Fried. Autograph, the buzzy NFT platform cofounded by NFL star Tom Brady, has laid off dozens of staffers after separately severing ties with former board member Sam Bankman-Fried, the disgraced founder of FTX, Insider has learned. Bankman-Fried joined the board of directors last year several months after Brady and his then wife, Gisele Bundchen, invested in FTX.

☆ Warren Buffett and Berkshire Hathaway are beating the market this year
▼ + stars: | 2022-12-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

But Warren Buffett has no reason to be worried. Shares of Buffett’s Berkshire Hathaway (BRKB) are up about 5.5% in 2022. Berkshire has big stakes in Coca-Cola (KO) and Kraft Heinz (KHC), which are each up around 10% this year. Buffett turns 93 next August while Berkshire vice chair and long-time Buffett confidant Charlie Munger will celebrate his 99th birthday on New Year’s Day. Democratic Sen. Elizabeth Warren has introduced a bill with Republican Sen. Roger Marshall that would crack down on money laundering in the crypto world.

☆ Brazil leave the World Cup after another debacle
▼ + stars: | 2022-12-10 | by ( Fernando Kallas | ) www.reuters.com time to read: +4 min

DOHA, Dec 10 (Reuters) - Brazil chalked up another disappointing World Cup performance as they exited the tournament in a stunning quarter-final defeat on penalties at the hands of Croatia. It was their second consecutive loss in a World Cup quarter-final, their fourth in the last five tournaments at the same stage. What was supposed to be redemption for the Paris St Germain forward, however, was instead transformed into his third World Cup nightmare. At Russia 2018, injuries again hampered his World Cup dream. Brazil will have to wait four more years to try to win a record-extending sixth world title, and their first since 2002.

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